Browsing: Uncategorized

Q. Will I continue to receive my supplement from the Office of Personnel Management until I reach 66½, at which time I would file for full Social Security benefit, rather than 62? Or does it stop automatically at 62? I want to hold off applying. I transferred from CSRS to FERS midway through my career and fall under WEP.

Q. In hindsight, l mistakenly took out $125,000 from my TSP to invest in another product that didn’t do very well. Of that amount, $25,000 is in a Roth IRA (yes, l paid the taxes on that), and l’m feeling pretty good about leaving that alone. What I’m wondering is (1) can l redeposit the $100,000 back into the TSP having only 18 months before l retire or (2) should l take the money out of the poorly performing account and buy a deferred annuity that will tie it up for about 10 years?

Q. My family and I are covered by the federal BCBS program through my federal position. My wife who is older will be 65, ( I am 57) in a couple of months and has just filed for Medicare A coverage. I asked the local BCBS rep for our agency when and whether she would need to file for the Medicare part B. The BCBS rep said when I retire she would need to file then for Medicare B coverage. My question is, would having and paying for Medicare B with the BCBS policy be redundant coverage? Your elaboration would…

Q. My husband and I signed up for the FLTCIP package a little over 10 years ago and are now in our early 70s.  I’ve set money aside from my inheritance to pay for the premiums, as they would be unaffordable otherwise.  The money I set aside should have been enough to cover 30 years of premiums, but if we can continue to expect huge premium increases every seven years, I will run out of money before I really need the coverage.  Please steer us to resources that can help us make the right decision; i.e., whether to keep one…

When you’re investing for goals, like retirement income, that may be many years off — it can be easy to lose sight of those objectives and become distracted by what’s happening at the moment. Nothing provides investors with a better opportunity to make this mistake than market volatility. Your investment portfolio has been growing nicely and fairly steadily for years and then, for no clear reason and without warning, its value falls — far and fast. One day, you felt good about your TSP’s prospects for supporting a nice standard of living in retirement, and the next day, your confidence…

Q. I am planning to retire sometime in 2016 with more than 40 years of service. I have been reading about the voluntary contribution program and have opened a VCP account with OPM. I am currently waiting to get a determination of how much I can contribute to the program. My plan is to contribute to the program and then roll over the contributions to a Roth IRA. Can I immediately roll over the entire amount deposited into the VCP to a Roth IRA? I am 60 years old, so the 59 ½ year age-withdrawal restriction would not apply, but would…

Q. I am 68 years old and do not want to touch my TSP account until I have to at 70½ years old. What percentage will I be required to take when that occurs? I currently have my money in the L Income Fund. Which L Fund do you recommend for me at this point and time?

Q. I am retiring at 62 with 41 years of federal service. I plan on leaving my TSP monies in my TSP account and taking a monthly withdraw. I’ve been told that if I pass away, my remaining TSP balance will be lost and not given to my wife who is the first beneficiary. Is that true?

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